FG To Conduct Inaugural Offering Of $300mln Diaspora Bonds

The federal government yesterday announced its intention to conduct an inaugural public offering of up to US$300 million aggregate principal amount of Diaspora bonds.

According to information , the offering is expected to commence after the United States Securities and Exchange Commission (SEC) completes review of the republic’s registration statement filed yesterday with the SEC and any subsequent amendments thereto effected prior to the SEC’s declaration of effectiveness of the registration statement, as so amended.

It will be recalled that in January the finance minister, Kemi Adeosun assured Nigerians in Diaspora of the bonds. “On the Diaspora bond, we are keen for that to take off. We are doing the Eurobond at the moment. The Eurobond is for January and as soon as that it is completed, the next one is the Diaspora bond. We are excited that the National Assembly has approved the Diaspora bond. We believe Nigerians abroad want to support development in Nigeria. We are hoping that the Diaspora bond will be rolled out by March,” she said.